Ships are one of the oldest and most efficient modes of transportation for bulky goods and long distances. With 13 major ports and more than 180 minor ports, India’s 7, 517 km long coastline plays a vital role in maritime transport along with offering huge international trade capabilities.
The sector is on a high-priority list for the Government as it is one of the components of national infrastructure. Being a focus area for development and refurbishment, Indian ports are increasingly becoming an attractive investment option for investors scouting for opportunities in Indian market. The current port scenario in the country offers a huge scope for expansion of international maritime transport; both for passengers and cargo handling.
- India’s 12 big ports, which account for about 58 per cent of the total cargo shipped through the country’s ports, handled 137 million tonnes (MT) of goods in the first quarter of FY14.
- Container cargo volumes at these 12 ports stood at 1.87 million standard containers during the reported quarter, according to data compiled by the Indian Ports Association (IPA).
- Shipping Corporation of India (SCI) has signed a memorandum of understanding (MoU) with GAIL India to co-operate for transportation of LNG sourced by the latter from the US. The two entities shall align their efforts for the transportation of 5.8 MT per annum (MTPA) of LNG being sourced by Gail from Sabine Pass and Cove Point terminals in the US.
- Dubai-based DP World has been awarded a contract to develop the Jawaharlal Nehru Port Trust (JNPT)'s Rs 600-crore (US$ 101.11 million) container terminal in Navi Mumbai. DP World is a leading marine terminal operator and its Indian subsidiary Nhava Sheva would be building this standalone container handling facility under this 17-year concession agreement.
The new development, to be executed on design, build, finance, operate and transfer (DBFOT) basis, is expected to ease congestion at JNPT.
- India's first indigenous aircraft carrier (IAC), being developed at the Cochin Shipyard, will be launched by August 2013. The 40, 000 tonne-warship machinery is expected to be operational by 2018. It is done with major fittings and underwater work. Now the superstructure, the upper decks and out-fittings are to be worked upon.